GBP/USD, EUR/GBP and FTSE 100 Weekly Updates

GBP/USD, GBP/AUD and FTSE 100 – Costs, Charts and Evaluation:

• GBP/USD continues to slip as Sterling weakens throughout the board.
• FTSE 100 caught between the 20- and 50-day shifting averages

The British pound continues to press decrease and is now testing the 1.23 deal with because the 50-day shifting common caps any upside transfer. The EU and UK in the present day kicked-off their newest spherical of commerce talks with each side eager to make progress though each are unwilling to make the primary transfer. If no center floor may be discovered this week, Sterling might fall additional. GBP/USD is touching a brand new one-month low and has now fallen by 5 huge figures within the final three weeks. Assist from the 50% Fibonacci retracement degree at 1.2306 is being examined and if this degree is breached, 1.2160 is prone to be the following degree of assist. The 50-dma at 1.2406 ought to present the primary space of short-term resistance.

GBP/USD Day by day Value Chart (December 2019 – June 29, 2020)

EUR/GBP continues to press increased and is at its highest degree in three months. Preliminary resistance is prone to be seen on the 23.6% Fibonacci retracement degree of 0.9213. The pair have accelerated off the robust uptrend line that began on the finish of April and any sell-off needs to be contained by the 38.2% Fib retracement at 0.9035 and up to date lows all the best way all the way down to 0.9000.

EUR/GBP Day by day Value Chart (December 2019 – June 29, 2020)

The FTSE 100 is at the moment caught in a shifting common pincer motion with assist from the 50-dma at 6,102 and resistance from the 20-dma at 6,224 which guards the 50% Fib retracement at 6,233. The market is neither oversold or overbought, utilizing the CCI indicator, and the FTSE will want a macro-driver to interrupt its present restrictive buying and selling vary. If the 50-dma folds, assist at 6,028 will seemingly be examined earlier than 5,932. Final Tuesday’s excessive at 6,342 ought to maintain within the short-term.

FTSE 100 Day by day Value Chart (December 2019 – June 29, 2020)

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What’s your view on Sterling (GBP) and the FTSE 100 – bullish or bearish?? You may tell us by way of the shape on the finish of this piece or you’ll be able to contact the writer by way of Twitter @nickcawley1.